The Silicon Review
"Going into debt usually isn’t caused by a lack of money, it is caused by a lack of vision.” – Dave
Do you sometimes feel handicapped when it comes to managing your money? If so, you’re certainly not alone. BankTEL Systems is the premier provider of financial accounting and cash management software applications. The company helps financial institutions cut costs, increase deposits, and automate their internal processes. BankTEL helps more than 1,400 clients in all 50 states and multiple international locations cut costs, increase deposits, and automate their internal processes. With the core values in cost-effective software and client service, BankTEL is able to offer top notch support and product offerings that fit in the needs of its clients. With 20 years of serving financial institutions, BankTEL Systems has become one of the premier providers of financial accounting and cash management software applications.
Management at its best
Accounts Payable: The Accounts Payable App is a robust application with a feature rich interface designed to deliver maximum benefit and increased efficiency. The server based environment
creates an automated process for managing invoices, saving key entry and reducing errors while providing an efficient system for tracking invoices and approvals. Invoice imaging and EFT payments are other key components of the system.
Prepaid & Accruals: The Prepaid and Accrual App automates the setup and tracking of prepaid and accrual items. Anintuitive interface allows easy setup of odd amounts, tracking of posting history, current balance reporting, allocation tables for unrestricted expense distribution and balancing reports. The Accounts Payable Application electronically transmits paid invoices to the Prepaid & Accruals Application.
Fixed Assets: BankTEL’s Fixed Asset App manages costs with a fully automated system to manage assets and reduce time consuming re-keying of information. The app offers control of managing fixed assets with the capability to sell, dispose of or transfer assets between branches and departments. The app offers an interface to the bank’s GL, with tax reporting, depreciation forecasting and a complete report writer. The Accounts Payable App electronically transmits paid invoices to the Fixed Asset App.
Vendor Management: Managerial efficiencies and regulatory compliance are major advantages of BankTEL’s Vendor Management App. A powerful set of features allows the tracking of multiple contracts and the ability to maintain risk ratings under FDIC risk rating criteria. The Vendor Management System is enhanced by the ability to scan or attach multiple images to vendor records, auto email notifications for contract/compliance renewals, tracking of latest financial and other corporate compliance information.
Shareholder Management: The Shareholder Management App performs the complex task of managing stock splits, paying dividends, creating tax forms and maintaining warrants and options. The robust set of features includes printing of dividend checks or payments by ACH, generating 1099’s, electronic tax filing and printing certificates. The system also offers C Corp or S Corp dividend payments and reporting.
Budgeting System: The Budgeting System is a true “Cloud” based budgeting system that automates and tream lines the entire budgeting process. Master budgets may be created and segmented for distribution throughout the organization. Completed budgets may be submitted and approved for final review. BankTEL’s budgeting solution provides imports for previous year’s actual account balances and/or a previous budgeting worksheet to establish a current year budget. Its budgeting solution is designed and optimized for both traditional computers, as well as, mobile devices such as smartphones and tablets.
Purchase Requisitions: Our Purchase Requisitions application will track the process from requisitions through purchase order, invoice match to invoice approval, and payment. Complete audit history will be available for the entire process. The Application is Integrated to BankTEL’s Accounts Payable and Invoice Approval applications.
Remote Scanning: The Remote Scanning App handles all invoice scanning and information tagging. Invoices are scanned, coded and given descriptions all in a browser based environment. The system eliminates the need to send invoices manually to the AP department for processing at the branch level. The Invoice Approval App can also be utilized for the branch scanning approval process.
Invoice Approvals: BankTEL’s Invoice Approval App automates the approvals process to ensure efficiency by allowing tracking, audit and control. This web based app handles all intra-company invoice approvals from initial creation to final approval. An unlimited number of approval officers can be assigned to each invoice as it is entered into the Accounts Payable system. User defined approval workflows can be utilized using Invoice Approval application.
Expense Reports: BankTEL’s Expense Report Application streamlines the process of submitting, tracking and reporting business, entertainment and travel expenses with a highly intuitive web based interface. This web based module allows employees to enter expense reports from any location within the bank. The Invoice Approval Application can also be utilized for the expense report approval process.
Vendor Portal: The Vendor Portal is a web-facing application allowing vendors to securely submit invoices to your financial institution and check the payment status of those invoices. This app allows you to add all current vendors & onboard future vendors to receive an overview of both newly submitted and paid invoices. The app creates an automated process for receiving invoices and gives the ability to sync with your Accounts Payable system.
The Happy Customers
“BankTel has been a great business partner. They continue to meet our expectations when meeting our IT requirements and their support has been most helpful. We appreciate the ability to work with them.” -Christopher Price, Baker Boyer Bank
“The bank just installed Accounts Payable, and we really like its performance so far.” -James Bleth, Bank of Oregon
“The AP module has really increased our efficiency and made account payable a breeze for our FI! I would really recommend it to anyone! The people are also great to work with!” -Jimmy Lyons, First State Bank and Trust
“Trusted by over 1,400 financial institutions worldwide.”
Meet the Master
Boyce Adams, Sr., Co-Founded BankTEL Systems in 1992 with only an idea and a conviction to develop software that uses automation to increase efficiencies and reduce costs for financial institutions. Now celebrating their 22nd year, BankTEL has grown to over 1,400 financial institutions in all 50 states, as well as in the Caribbean and several foreign countries.
Before BankTEL, Boyce worked in the oil industry developing software to improve operations from the field to the front office. It was there he saw the importance of automation with the emerging development of the early PC systems. He later worked as a consultant to a CPA firm where he brought the same keen vision to the accounting profession during a time when technological advances were changing the way financial institutions do business. Boyce recognized the need for software solutions that not only interfaced with core banking systems but could work simultaneously on different platforms to more fully automate financial accounting. From there, BankTEL was born.
Boyce Adams, Jr. has been at the company full-time since 2009 serving in a variety of roles, and he has most recently been appointed as President of BankTEL Systems where he oversees the daily operations of the growing company.
Boyce most recently served as an advisor to the Administrator of the Federal Aviation Administration. Prior to this, he served in the White House, Office of Presidential Personnel focusing on Presidential appointments to financial and energy related portfolio, which include the Federal Reserve, Treasury Department, Department of Energy, Tennessee Valley Authority, Federal Energy Regulatory Commission and others. Boyce is also a Commercial Pilot and Certified Flight Instructor.